HANDSET RETAILER EXPANDS OPERATIONS TO ARMENIA

Cellular-News, UK
Jan 18 2007

MOSCOW, Jan 18 (Prime-Tass) — Russia’s largest mobile handset retailer
Euroset has expanded its operations to Armenia, the retailer said in
a press release Thursday.

Euroset has opened two outlets in the Armenian capital, Yerevan, and
plans to operate a total of 30 outlets in the country by the end of
the year, the retailer said.

Following the expansion into Armenia, Euroset operates in 11 countries:
Russia, Armenia, Belarus, Estonia, Kazakhstan, Kyrgyzstan, Latvia,
Lithuania, Moldova, Ukraine and Uzbekistan.

Euroset is the largest mobile handset and digital electronics retailer
in the Commonwealth of Independent States (CIS) and Baltic states,
having a network of over 5,000 outlets. Euroset’s preliminary sales
soared 79% on the year to U.S. $4.62 billion in 2006.